Late payments costing smaller UK businesses more than £2bn a year

The UK’s smaller businesses are facing a total bill of £2.16 billion to chase overdue payments, according to Bacs Payment Schemes Limited (Bacs), the company behind Direct Debit and Bacs Direct Credit in the UK. That’s in spite of a dramatic drop in the overall late payment debt, with new figures showing that UK small to medium size enterprises (SMEs) are owed £14.2 billion in contrast with five…

Source